RWC Asset Advisors US LLC Decreases Stock Holdings in MercadoLibre, Inc. $MELI

RWC Asset Advisors US LLC cut its stake in MercadoLibre, Inc. (NASDAQ:MELI) by 20.9% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,231 shares of the company’s stock after selling 4,027 shares during the period. MercadoLibre accounts for about 5.8% of RWC Asset Advisors US LLC’s investment portfolio, making the stock its 10th biggest position. RWC Asset Advisors US LLC’s holdings in MercadoLibre were worth $35,594,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Jackson Wealth Management LLC acquired a new position in shares of MercadoLibre in the 2nd quarter valued at $499,000. Highview Capital Management LLC DE bought a new stake in MercadoLibre in the second quarter valued at about $559,000. Ninety One North America Inc. lifted its stake in MercadoLibre by 21.5% in the second quarter. Ninety One North America Inc. now owns 6,094 shares of the company’s stock valued at $15,927,000 after buying an additional 1,080 shares during the period. Resona Asset Management Co. Ltd. lifted its stake in MercadoLibre by 4.0% in the second quarter. Resona Asset Management Co. Ltd. now owns 15,308 shares of the company’s stock valued at $39,900,000 after buying an additional 585 shares during the period. Finally, Jennison Associates LLC boosted its holdings in MercadoLibre by 7.0% during the second quarter. Jennison Associates LLC now owns 1,235,240 shares of the company’s stock worth $3,228,460,000 after buying an additional 81,124 shares during the last quarter. Institutional investors and hedge funds own 87.62% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on MELI shares. Weiss Ratings lowered shares of MercadoLibre from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Thursday. Zacks Research cut shares of MercadoLibre from a “hold” rating to a “strong sell” rating in a research report on Thursday, January 1st. BTIG Research reissued a “buy” rating and issued a $2,750.00 price target on shares of MercadoLibre in a report on Thursday, December 4th. Morgan Stanley raised their price objective on MercadoLibre from $2,850.00 to $2,950.00 and gave the stock an “overweight” rating in a research note on Monday, November 3rd. Finally, Dbs Bank upgraded MercadoLibre from a “hold” rating to a “moderate buy” rating in a report on Tuesday, December 2nd. One investment analyst has rated the stock with a Strong Buy rating, fifteen have assigned a Buy rating, three have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, MercadoLibre has a consensus rating of “Moderate Buy” and an average target price of $2,842.94.

Insiders Place Their Bets

In other news, Director Stelleo Tolda sold 246 shares of the stock in a transaction dated Tuesday, December 9th. The shares were sold at an average price of $2,047.88, for a total transaction of $503,778.48. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Henrique Vasoncelos Dubugras sold 845 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $2,028.14, for a total value of $1,713,778.30. The SEC filing for this sale provides additional information. Insiders sold a total of 1,136 shares of company stock valued at $2,308,788 in the last quarter. 0.25% of the stock is currently owned by insiders.

MercadoLibre Stock Down 1.3%

Shares of MELI stock opened at $2,149.90 on Tuesday. MercadoLibre, Inc. has a 12-month low of $1,723.90 and a 12-month high of $2,645.22. The company has a quick ratio of 1.15, a current ratio of 1.17 and a debt-to-equity ratio of 0.55. The firm has a fifty day moving average of $2,059.31 and a 200-day moving average of $2,248.18. The company has a market capitalization of $109.00 billion, a price-to-earnings ratio of 52.46, a P/E/G ratio of 1.08 and a beta of 1.42.

MercadoLibre (NASDAQ:MELI) last announced its earnings results on Wednesday, October 29th. The company reported $8.32 earnings per share for the quarter, missing analysts’ consensus estimates of $9.88 by ($1.56). MercadoLibre had a return on equity of 39.03% and a net margin of 7.93%.The company had revenue of $7.41 billion during the quarter, compared to analyst estimates of $7.19 billion. During the same period in the previous year, the company posted $7.83 earnings per share. MercadoLibre’s revenue for the quarter was up 39.5% on a year-over-year basis. As a group, equities research analysts predict that MercadoLibre, Inc. will post 43.96 earnings per share for the current fiscal year.

About MercadoLibre

MercadoLibre, Inc operates an integrated e-commerce and fintech ecosystem serving consumers and businesses across Latin America. The company provides an online marketplace that connects buyers and sellers for a wide range of goods and services, supported by tools for merchants, advertising, and classifieds. Over time MercadoLibre has expanded beyond its marketplace roots into complementary areas that support digital commerce end to end.

Key offerings include its marketplace platform and a suite of logistics and payment services.